If you think the Internal Revenue Service expects to hear from everybody this time of year, here’s a quote that might surprise you. It’s from an IRS spokesperson I’ve interviewed many times, Mike Dobzinski. “We get quite a few returns that come in that really don’t have to be filed. If we can discern from… Read More
April 15 is rapidly approaching, and you know you have to file a tax return, but does your teen have to?
You know you have to file a tax return, but does your teen? The deadline is rapidly approaching, and he or she may — or may not — have received forms relating to income last year. Chances are, your teen does not have to file. John Scherer, a certified financial planner with Trinity Financial Planning in… Read More
You can ignore your taxes for years, but you’re going to pay for it eventually.
Ignoring your tax responsibilities is generally a poor decision for a number of reasons. For starters, failing to pay your taxes can put you in debt and hurt your credit, which makes many everyday things more difficult and stressful. If you’re considering putting off paying your taxes because you can’t afford what you owe, you… Read More
If you do not have enough money to pay taxes this year, you still have some options for avoiding the ire of Uncle Sam.
About three-quarters of taxpayers receive a refund, according to 2014 data from the Internal Revenue Service. If you’re among the roughly 27% whose returns are processed and you owe money, you have an important question to answer: How will you pay? Perhaps more important: Can you afford to pay? If you have the cash on… Read More
If you use a credit card to pay taxes, you will pay a transaction fee — and if you are doing it only for convenience, it may be worthwhile to send a check.
Beyond the cold weather and snowstorms many Americans are facing this winter, a lot of us are also staring down a large tax payment. And when it comes time to pay what we owe, we actually have several choices when it comes to the method of payment. Unfortunately, many of us choose a form of payment that costs… Read More
Depending on where you live, property taxes can range from a slight inconvenience to a crushing expense. Here in South Florida, for example, the annual tax bill for my 2,200-square-foot waterfront home is close to $9,000 annually. Outside Atlanta, where my parents lived, they were paying less than $1,000 per year. But wherever you live, if you… Read More